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2021 Spring Conference June 10, 2021 June 15, 2021 June 18, 2021 June 24, 2021
2021 Spring Conference
June 10, 2021 June 15, 2021 June 18, 2021 June 24, 2021
VGFOA Spring Conference 2021 1
Table of Contents
Fall Conference Schedule ....................................................................................... 2
VGFOA Executive Board 2020-2021 ....................................................................... 4
List of VGFOA Past Presidents ............................................................................... 5
List of CPFO’s .......................................................................................................... 7
List of VGFOA and Radford University GNAC Certificate Recipients ................. 8
Conference Schedule: Keynote Session - Leaders Change Lives ........................................................... 13
Legalized Marijuana ............................................................................................ 14
The American Rescue Plan Guidance and Washington DC Next Steps for State and Local Governments ..................................................................................... 15
Virginia Consumer Data Protection Act ............................................................... 16
Business Resiliency: Weathering Volatility .......................................................... 17
Bonds and Post-Issuance Compliance ............................................................... 18
GASB 87 ............................................................................................................. 19
Rating Agency Roundtable ................................................................................. 20
Virginia CPA Ethics 2021 ..................................................................................... 22
CRF, ARPA and the Single Audit ........................................................................ 23
VRS Update ........................................................................................................ 24
APA Update ........................................................................................................ 25
Economic Update ................................................................................................ 26
Spring Conference Sponsors & Exhibitors .......................................................... 27
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VGFOA 2021 Spring Conference Schedule
9:00am – 9:50am
Keynote Session - Leaders Change Lives - Terrie Glass, Zelos LLC
9:50am – 10:00am Break
10:00am – 10:50am Legalized Marijuana
- Robin Peterson, City of Aurora, CO; Chris McDonald, VACo
10:50am – 2:00pm Break
2:00pm – 2:50pm
The American Rescue Plan Guidance and Washington DC Next Steps for State and Local Governments - Emily Brock, GFOA
2:50pm – 3:00pm Break 3:00pm – 3:50pm
Virginia Consumer Data Protection Act - Antonina McAvoy, PBMares
9:00am – 9:50am
Business Resiliency: Weathering Volatility - Jessica Riggins & Eileen Roberts, JP Morgan
9:50am – 10:00am Break
10:00am – 10:50am Bonds and Post-Issuance Compliance
- Kim Hoyt, Bingham Arbitrage Rebate Services; Arthur Anderson II, McGuire Woods
10:50am – 2:00pm Break
2:00pm – 2:50pm GASB 87 - Matthew Heatwole, Brown Edwards & Company, LLP
Thursday, June 10th
Tuesday, June 15th
VGFOA Spring Conference 2021 3
VGFOA 2021 Spring Conference Schedule
2:50pm – 3:00pm Break
3:00pm – 3:50pm
Rating Agency Roundtable - Evette Caze, Fitch Ratings; Kimberly Lyons, Moody's Investor Service; Courtney Rogers, Davenport & Company LLC; Nora Wittstruck, S&P Global
9:00am – 10:40am
Virginia CPA Ethics 2021 - Krista Edoff, Cherry Bekaert LLP
9:00am – 9:50am CRF, ARPA and the Single Audit
- Rob Churchman, Cherry Bekaert LLP
9:50am – 10:00am Break
10:00am – 10:50am VRS Update
- Barry Faison & Leslie Weldon, Virginia Retirement System 10:50am – 2:00pm Break
2:00pm – 2:50pm
APA Update - Rachel Reamy, Auditor of Public Accounts
2:50pm – 3:00pm Break
3:00pm – 3:50pm
Economic Update
- Ellis Phifer, Raymond James
Tuesday, June 15th Cont’d.
Thursday, June 24th
Friday, June 18th
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VGFOA Executive Board 2020-2021
Officers
President – Trish Davidson Director of Finance, Rockingham County Term Expires: Oct. 2021
President Elect – Andrea Trent Manager of Retirement Plans, City of Roanoke Term Expires: Oct. 2021
Past President – Jill Underwood Director of Finance, Bedford Regional Water Authority Term Expires: Oct. 2021
Treasurer – Janet Romanchyk Deputy CFO, Loudoun County Term Expires: Oct. 2022
Board Members Marion Serfass, Spring Conference Chair Director of Finance/Treasurer, Town of Vienna Term Expires: Oct. 2021
Keli Reekes, Education Chair Director of Finance, Brunswick County Term Expires: Oct. 2022
Betsy Drewry, Membership and Awards Chair Deputy County Administrator, Prince George County Term Expires: Oct. 2023
Andrea Light, Communications, Legislative & Standards Setting Chair Budget Division Director, Stafford County Term Expires: Oct. 2023
Howard Kartel, Spring Conference Chair Director of Finance/Town Treasurer, Town of Culpeper Term Expires: Oct. 2023
Aaron McCoy, Associate Member Relations Chair Finance Officer, Virginia Beach Sheriff’s Office Term Expires: Oct. 2021
Donna Witt, Fall Conference Chair Chief Financial Officer, City of Lynchburg Term Expires: Oct. 2022
Jenny Fletcher, Executive Secretary Client Relations Specialist, VML/VACo Finance
Virginia Government Finance Officers' Association’s mission is “…to foster financial excellence in government by creating opportunities for professional
development.”
VGFOA Spring Conference 2021 5
VGFOA Past Presidents
Date President City/County
1969-1970 J. Robert Thomas Roanoke
1970-1971 Philip A. Curtis, Jr. City of Newport News
1971-1972 Hubert H. Shiner, Jr. City of Petersburg
1974-1975 Giles G. Dodd City of Virginia Bea ch
1975-1976 A. N. (Hoot) Gibson City of Roanoke
1976-1977 Bill M. Perrero City of Winchester
1977-1978 Aubrey D. Dodson City of Danville
1978-1979 H. Jack Lissenden Richmond
1979-1980 Roy W. Cherry City of Portsmouth
1980-1981 Michael W. Hill City of Lynchburg
1981-1982 Frank P. Turk City of Salem
1982-1983 Ray B. Jones Albemarle County
1983-1984 Jimmy D. Clowers City of Norfolk
1984-1985 John M. Chambliss Roanoke
1985-1986 Dennis Kerns Henrico County
1986-1987 Leon Hirsh York County
1987-1988 Joseph N. Black Hanover County
1988-1989 Joseph S. Paxton Rockingham County
1989-1990 M. E. (Mickey) Poole Loudoun County
1990-1991 John Mitchell City of Colonial Heights
1991-1992 James Grisso City of Roanoke
1992-1993 Jeffrey Lunsford Montgomery County
1993-1994 James McReynolds York County
1994-1995 Raoul James Kister Albemarle County Service Authority
1995-1996 Cecil R. Harris, Jr. Hanover County
1996-1997 Mary C. Kemp Town of Herndon
1997-1998 John Tuohy Fauquier County
1998-1999 Clarence Daniel Henrico County
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VGFOA Past Presidents (Cont’d.)
Date President City/County
1999-2000 Jesse Hall City of Roanoke 2000-2001 Shelley Carmichael Stafford County 2001-2002 Bill Johnson City of Colonial Heights 2002-2003 Joseph Casey Hanover County 2003-2004 Larry Clark Richmond (Henrico County)
2004-2005 Phillip Grant Town of Vienna 2005-2006 Terry S. Stone Hanover County 2006-2007 Rebecca Owens Roanoke County
2007-2008 Steven A. Solomon Fairfax County Housing
2008-2009 Marycarol C. White York County 2009-2010 Ann Shawver City of Roanoke 2010-2011 Vivian McGettigan Prince William County Public
Schools 2011-2012 Patricia Weiler City of Manassas 2012-2013 Charles Ramsay Henrico County
2013-2014 Barbara Dameron City of Roanoke
2014-2015 Jon Munch Fauquier County
2015-2016 Renee Hoover Charlottesville City Schools
2016-2017 Kathy Seay Hanover County
2017-2018 Diane Bergeron City of Manassas
2018-2019 Curtis Doughtie Virginia Resources Authority
2019-2020 Jill Underwood Bedford Regional Water Authority
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Certified Public Finance Officers
Lisa Anderson, City of Lynchburg
Lisa Breeden, Albemarle County
Jennifer Brody, City of Fredericksburg
Patsy Brown, Chesterfield County
Vivian Calkins-McGettigan, York County
Carrie Curry, Town of Leesburg
Patricia Davidson, Rockingham County
Theresa Eckhout, PlanRVA
Deirdre Finneran, Fairfax County
Andre Fletcher, Warren County
Lisa Haley, Town of Leesburg
Victoria Herrick, City of Williamsburg
Mark Highfield, Hanover County
Barbara Horlacher, Goochland County
Dennis Jarrett, York County School Division
Reid Lanham, City of Lynchburg
Sheila Minor, City of Colonial Heights
Laura Morrison, MWAA
Jonathan Munch, Fauquier County
Christopher Pietsch, Fairfax County
Jerry Schulz, Town of Herndon
Ann Shawver, Ann Harrity Shawver, CPA, PLLC
Marta Smith, University of Mary Washington
Katherine Spooner, City of Fredericksburg
Gary Swink, City of Lexington
Tammy Todd, City of Salem
Lori Van Curen, Roanoke Higher Education Authority
John Wallingford, Prince William County Public Schools
Edgar Wertheimer
Kendall Williams, Washington County
Regina Williams, Pulaski County
Donna Witt, City of Lynchburg
Susan Worrell, Albemarle County
GFOA Certification Program
The Certified Public Finance Officers Program (Certification Program) of the Government Finance Officers Association of the United States and Canada (GFOA) is a broad educational self-study program designed to verify knowledge in the disciplines of government finance. The Certification Program is governed by the Council on Certification. Technical and administrative support for the program is provided by Radford University's Governmental and Nonprofit Assistance Center.
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VGFOA and Radford University GNAC Certificate Recipients
The following individuals have completed the requirements for the VGFOA and Radford University GNAC Certificate Program. Congratulations to our newest
Certificate holders as of Spring 2021, designated in BOLD.
Mary Altemus, New Kent County
Jacqueline Althizer, Hanover County
Tina Ammons, King and Queen County
Ashley Anderson, Roanoke County
Lisa Anderson, City of Lynchburg
Dahlis Atkins, Isle of Wight County
Elizabeth Atkinson, Roanoke County
Margaret Bacon, Roanoke County
Katie Bailey, Stafford County
Pamela Barclay, City of Newport News
Judy Barnes, Stafford County
Monique Barnes, Williamsburg-James City County Public Schools
Leslie Beasley, Hanover County
Mandy Belyea, Town of Woodstock
Natalie Berger, Prince William County
Diane Bergeron, City of Manassas
Christina Berta, Chesterfield County Public Schools
Andrew Binks, James City County
Mary Blowe, City of Winchester
Helen Bogart, Prince William County
Tanya Burrell, Fairfax County
Christina Brannan, Central Virginia Community College
Lisa Breeden, Albemarle County
Celeste Broadstreet, City of Winchester
Jennifer Brody, City of Fredericksburg
Jay Brown, Charles City County
Tasha Burkett, City of Roanoke
Esther Caesar, Prince William County Government
Misty Caish, Virginia Beach City Public Schools
Tammy Callahan, Town of Culpeper
Jhany Cardozo, Fairfax County
Elizabeth Carpenter, Williamsburg-James City County Public Schools
Brian Carter, Franklin County
Tanya Catron, Roanoke County
Maria Cavin, Prince William County Schools
Nickie Champion, Gloucester County
Ju-Ling Cheng, Fairfax County
VGFOA and Radford University GNAC Certificate Program
The purpose of the VGFOA and Radford University GNAC Certificate Program is to:
- Provide training in the areas of accounting, budgeting, cash management, debt, administration, internal controls, Virginia law and other topics pertinent to state and local governments.
- Provide instructional support for those wishing to pursue the Government Finance Officers Association (GFOA) Certified Public Finance Officer (CPFO) certification.
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VGFOA and Radford University GNAC Certificate Recipients Lillian Cheng, Fairfax County
Carol Clancy, Fairfax County Housing
Lisa Cockrell, Loudoun County
Mary Collins, City of Lynchburg
Jeanne Colvin, City of Staunton
Joseph Correa, Albemarle County
Michael Cosby, City of Roanoke
Karen Covert, Town of Vienna
Kathy Cox, Stafford County
Susan Crawford, Bedford County
Carrie Curry, Town of Leesburg
Sheila Cutrell, City of Emporia
Kathaleen Cyckowski, Chesterfield County
Patricia Davidson, Rockingham County
Lillie DeLancy, Virginia Department of Emergency Management
Paul Deming, Portsmouth City Public Schools
Francis Deniega, City of Manassas
Gerard Durkin, City of Richmond
Starlette Early, City of Lynchburg
Teresa Eckhout, VML/VACo Finance
Brian Edwards, Henrico County
Jami Engel, Chesterfield County
Rene Ewing, Williamsburg-James City County Public Schools
Jon Farmer, Virginia Resources Authority
Joseph Feaser, Virginia Housing Development Authority
Deirdre Finneran, Fairfax County
Paul Fitzgerald, Prince William County
Andre Fletcher, Warren County
Katrina Flowers, Virginia Department of Transportation
Amy Ford, Accomack County
Pamela Foster, Portsmouth Public Schools
Kathryn Fox, City of Salem
Tammy Franchok, Loudoun County
Rene Gapasin, Prince William County
Ruth Garcia, Loudoun County
Christine Garczynski, City of Norfolk
Keena Garns, City of Virginia Beach
Leesa Gayheart, Grayson County
Laurie Gearheart, Roanoke County
Cynthia Glascock, Loudoun Water
Anand Goutam, Fairfax County
Patricia Green, Tazewell County
Stephan Greennagel, Town of Herndon
Lisa Greer, Roanoke County
Sue Gregory, Roanoke Higher Education Center
Tracy Gregory, City of Chesapeake
Vicki Hall, Fairfax County
Janet Haney, York County
Tealen Hansen, City of Suffolk
Dawn Hardman, Hanover County
Deanna Harris, Mathews County
Larisa Harris, Portsmouth Public Schools
Gail Hassmer, City of Charlottesville
Karen Hatfield, Western Tidewater Regional Jail
Randy Helwig, Stafford County
Victoria Herrick, City of Williamsburg
Rebecca Hicks, Prince George County Schools
Mark Highfield, Hanover County
Beth Hindle, City of Winchester
David Hockaday, Fairfax County
Andrea Hogge, Middle Peninsula Reg. Security Center
Renee Hoover, Charlottesville City Schools
Barbara Horlacher, Goochland County
Anne Howerton, Dinwiddie County
Wan Hu, City of Portsmouth
Barbara Hudson, City of Lynchburg
Sharon Hulehan, Virginia Beach City Public Schools
Stephanie Jackson, Halifax County
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VGFOA and Radford University GNAC Certificate Recipients Tisha Jaudon, Albemarle County
David Jeavons, Roanoke Regional Airport Commission
Margaret Jefferson, New Kent County
William Jennings, Fairfax County Public Schools
Hoisuk Jeong, Suffolk Dept. of Social Services
Dabeiba Johnson, City of Charlottesville
Lori Jones, Town of Hamilton
Stephanie Jones, Virginia Resources Authority
Pamela Kamalakkannan, Commonwealth of VA – DPOR
Zainab Kamara, Arlington County
Howard Kartel, Town of Culpeper
Julie Kaylor, Matthews County
Tamara Keesecker, Loudoun County
Teri Kent, Town of Herndon
Patricia Kephart, City of Virginia Beach
Kevin Kielbasa, City of Virginia Beach
Donna Kimberlin, Alleghany County
Alisa King, City of Waynesboro
Teresa Kirkdoffer, City of Charlottesville
Jana Kotalova, Arlington County
Rocio Lamb, Albemarle County
Reid Lanham, City of Lynchburg
Jody Lawson, City of Roanoke
Hansford Leake, Roanoke County
Eileen Leonard, Prince William County
Jian Lin, Albemarle County
Denise Lindquist, City of Manassas
Michael Longhi, Northern Virginia Transportation Authority
Rebecca Longnaker, Chesterfield County
Corrine Louden, Virginia Department of Corrections
Kimberly Ludwig, Hanover County
Zoe Lumpkin, City of Newport News
Regina Magalong, Fairfax County
James Mahone, Virginia Department of Treasury
Evan Malone, Roanoke County
Robin Mamola, City of Lynchburg
Arlene Matney, Tazewell County
Teresa May, Loudoun County
Aaron McCoy, Virginia Beach Sheriff’s Office
Vivian McGettigan, York County
Karen McMillan, Roanoke County
Jennifer Meeks, Western Virginia Water Authority
Sheila Minor, City of Colonial Heights
Teanna Mitchell, James City County
Kelly Moore, Sussex County
Judy Morin, City of Newport News
Amy Morris, City of Salem
Deborah Morris, York County
Stephanie Moss, York County
Dawn Mullins, City of Roanoke
Jon Munch, Fauquier County
Eileen Nguyen, Loudoun County
Ngan Nguyen, Fairfax County
Debbie Noble, City of Roanoke
Kimberly Oates, Fairfax County Water Authority
Tonya O’Connell, City of Poquoson
Daniel Ogbon, Fairfax County Housing
Theresa Owens, York County
Megan Palmer, City of Lynchburg
Vicky Pannell, Albemarle County
Lisa Parker, City of Lynchburg
Amy Pearson, Virginia Workers’ Compensation Commission
Andrea Pearson, Virginia Resources Authority
Caitlin Pelletier, Hanover County
Mark Pemberton, City of Lynchburg
Mary Penney, City of Salem
Jennifer Perkins, Dinwiddie County
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VGFOA and Radford University GNAC Certificate Recipients Sally Perry, City of Manassas
Terrilyn Pete, Fauquier County
Susan Peterson, Roanoke County Schools
Lee Pfeiffer, Cumberland County
Meera Phaltankar, City of Portsmouth Schools
Diane Pham, Fairfax County
Mark Phelps, City of Portsmouth Schools
Heather Poulsen, James City County
Sabrina Quan, Loudoun County
Charles Ramsay, Henrico County
Gwen Riddle, Town of Vienna
Susan Riley, City of Virginia Beach
Theresa Robey, Fairfax County Water Authority
Elizabeth Roe, Prince William County
John Rosser, City of Lynchburg
Laura Rudy, Stafford County
Lynn Ruths, Loudoun County
Melissa Ryman, City of Falls Church
Andy Scales, Middle Peninsula Regional Security Center
Jerry Schulz, Town of Herndon
Marion Serfass, Town of Vienna
Philip Serra, City of Williamsburg
Ann Shawver, Ann Harrity Shawver, CPA, PLLC
Delores Smith, Wise County
Rhonda Sommer, City of Chesapeake
Cindy Speck, City of Lynchburg
Kelly Spencer, Albemarle County Department of Social Services
Melody Sprague, Newport News Department of Human Services
Stuart Stallman, Fairfax County Housing
Marc Stein, City of Chesapeake
Randee Stenroos, Arlington County
Michelle Stephens, York County
Amy Stonebraker, New Kent County
Brian Stump, Norfolk State University
Gary Swink, City of Lexington
Lora Swortzel, Augusta County
Amy Sylvia, Hanover County
Linda Terrell, James City County
Tewodros Tessema, City of Alexandria
Sara Teyema, Arlington County
Tara Thomas, Gloucester County
Lisa Thorne-Izes, Prince William County Public Schools
Lindsey Thornton, Chesterfield County
Tyler Tingler, Chesterfield County
Tammy Todd, City of Salem Patricia Townsend, Prince William County Public Schools Andrea Trent, City of Roanoke
Jill Underwood, Bedford Regional Water Authority
Misty Upson, VDOT
Laura Vallejos, Town of Herndon
Lori VanCuren, Roanoke Higher Education Authority
Sharon Verry, Commonwealth of VA – DPOR
Krisanee Vitoonkittikul, City of Falls Church
Tamara Walters, City of Chesapeake
Kimberly Warren, Fairfax County Water Authority
Patricia Weiler, Powhatan County
Edgar Wertheimer, IV
Jennifer Whetzel, Augusta County
Deborah White, Goochland County Public Schools
Marycarol White, Minor and Associates, PLLC
Deborah Whitley, Fauquier Water and Sanitation Authority
Jennifer Wilkerson, Hanover County
Stacey Wilkes, Amherst County
Kendall Williams, Washington County
Regina Williams, Pulaski County Catherine Wilson, Chesterfield County
Consuela Wilson, Chesterfield County
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VGFOA and Radford University GNAC Certificate Recipients Nora Wilson, Mathews County Social Services
Donna Witt, City of Lynchburg
Tara Woodruff, James City County
Karen Woodson, City of Virginia Beach Public Schools
Miryam Woodson, City of Virginia Beach
Linda Woody, Town of Rocky Mount
Susan Worrell, Henrico County
Penny Xu, Fairfax County Public Schools
Jovelyn Yambao, City of Manassas
Wendy Zhi, Fairfax County
Join us at Future Conferences!
Spring Conferences
Marriott Virginia Beach Oceanfront – May 11 – 13, 2022
Marriott Virginia Beach Oceanfront – May 3 – 5, 2023 arriott Virginia Beach Oceanfront – May 26 – 28, 2021
Fall Conferences
Omni Richmond Hotel – September 15 – 17, 2021
Omni Richmond Hotel – September 28 – 30, 2022
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Session Abstracts with Speaker Biographies Thursday, June 10, 2021
Keynote Session - Leaders Change Lives
Leaders have tremendous responsibility -- the work must be above reproach, the customers must be well served and the organization must be better off because of the leader. Amid these demands, sometimes overlooked is the opportunity leaders have with the people who report to them. Leaders can change lives. Lofty as that sounds, great leaders do have a lasting impact on the people who report to them. When we take seriously our opportunity to develop others, to provide them with courageous feedback and to be role models, the impact is significant. In this presentation, we will examine these areas of leadership and think about how you can be this kind of impactful leader.
Terrie Glass, Director of Leadership Development
Zelos LLC [email protected]
Terrie Glass is an expert in the human aspects of business execution. Trained originally as a social worker and then as a leader, she understands the importance and impact of the ""people parts"" of work. She inspires staff at all levels to take seriously the impact they have on others and to recommit themselves to excellence in their interactions. She believes that leadership is a privilege and a great responsibility. She is dedicated to growing today and tomorrow's leaders by teaching skills, increasing self-awareness and deepening understanding. Terrie was a middle manager and a senior leader in her own career prior to becoming a trainer and speaker. Her examples are stories based in real life, borne of her own experience or that of others she has mentored. She has worked with corporations, public sector organizations, non-profits and associations. Her own career was in local government and she has a special appreciation for the community building work of public servants. She has been the Director of Leadership Development for Zelos for the past 13 years.
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Legalized Marijuana
Robin Peterson will provide insight on what to expect creating a marijuana program, both highlights and what pitfalls to be aware of in an ever- changing emerging industry. Chris McDonald will speak to the new legislation adopted by the Virginia General Assembly in 2021.
Chris McDonald, Director of Government Relations VACo
Chris McDonald joined the VACo team on July 2017 as Director of Government Relations. He previously served in Governor Terry McAuliffe’s Administration as Special Advisor for Energy Policy. In his role as Special Advisor, Chris counseled the Governor’s Office; the Secretary of Commerce and Trade; the Department of Mines, Minerals and Energy; and other government entities and officials on energy laws, regulations and policies pertaining to solar, wind and nuclear energy as well as energy efficiency, energy project financing and economic development. Chris graduated from Vanderbilt University with a bachelor’s degree in philosophy (honors) and political science. He earned his Juris Doctor from Washington and Lee University School of Law and is licensed to practice by the Virginia State Bar.
Robin Peterson, Manager, Marijuana Enforcement Division City of Aurora, CO
Robin Peterson is the Manager of the Marijuana Enforcement Division for the city of Aurora, Colorado. She was tapped to develop and administer the regulated marijuana program when Amendment 64 was passed in Colorado that allowed adult use marijuana. The program has been a model for other jurisdictions in Colorado as well as in other states. Robin is an active Certified Public Accountant, Certified Fraud Examiner with an MBA.
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The American Rescue Plan Guidance and Washington DC Next Steps for State and Local Governments
As local governments begin to consider their spending plans for the American Rescue Plan Act (ARPA) Funds now with updated guidance from the US Treasury, there is opportunity to learn from one another. Meanwhile, Congress is planning a major infrastructure plan that may have significant funding opportunities for local governments. Come to this session to hear the final ARPA guidance and gain some perspective on what other GFOA communities are planning for their first tranche of ARPA funds. Additionally, Emily Brock will offer some perspective for your planning purposes on what local governments should expect from Congress in 2021.
Emily Brock, Director, Federal Liaison Center GFOA
As Director of GFOA’s Federal Liaison Center, Emily leads coalition and advocacy efforts of the Public Finance Network in Washington DC. Her advocacy includes anticipating and responding to federal legislative and regulatory activities that impact the finance functions of state and local governments and public sector entities including tax reform, municipal securities disclosure and public pension and benefit issues. Emily also serves as staff on GFOA’s Debt Committee, working with committee members to develop best practices that promote sound financial practices for local, state and provincial governments. Prior to joining GFOA, Emily was a commercial bank relationship manager at a large national bank, serving as the sole bank liaison for government and university clients.
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Virginia Consumer Data Protection Act
Virginia Governor Ralph Northam signed the Virginia Consumer Data Protection Act (VCDPA) into law March 2, 2021. In doing so, Virginia became the second state to enact comprehensive privacy legislation and the first to do so on its own initiative. The VCDPA imposes obligations on entities that conduct business in Virginia or produce products or services that are targeted to Virginia residents. This presentation will give you an overview of the new requirements and how they may affect you and your locality.
Antonina McAvoy, Manager, Cyber & Control Risk Services PB Mares, LLP
Antonina McAvoy specializes in cybersecurity, as well as data protection and privacy. She has over a decade of experience leading and performing a wide spectrum of cybersecurity reviews (i.e. NIST, COBIT, CIS, GDPR, ISO Standards), SOX 404 business control mapping and Information Technology General Control (ITGC) assessments, AICPA SOC reporting (SOC 1, 2, 3, SOC for Cybersecurity, and SOC for Supply Chain reporting), HIPAA compliance audits, HITRUST CSF readiness assessments, FFIEC IT examinations, DoD DFARS (System Security Plans and Plan of Action & Milestones), DoD CMMC readiness assessments (CMMC provisional assessor candidate), M&A Cyber Due Diligence assessments, outsourced IT internal audits, and internal control assessment services. Antonina has strong technical skills and is instrumental in performing complex data mapping exercises to identify where key data resides in an organization’s environment, assessing the design and operating effectiveness of control environments, as well as identifying control gaps and weak cybersecurity settings. She is highly skilled in analyzing the root cause and impact of IT issues through gaining a deep understanding of an organization’s operations. She is well versed in translating IT risks, recommending business solutions, and advising organizations on designing strategies to create and improve sustainable data protection and enterprise-wide risk prevention programs.
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Session Abstracts with Speaker Biographies Tuesday, June 15, 2021
Business Resiliency: Weathering Volatility
In the past 50 years, the number of worldwide weather-related disasters has quadrupled, reaching 400 annually. Cyber threats are on the rise, and many local governments have fallen victim to cyber criminals. And in 2020, many governmental entities abruptly had to cease or scale back in person operations and transition to working and serving constituents remotely. In this session, we will outline the steps your organization can take to develop a strong resiliency plan, which is essential to ensuring continuous business operations in the event of crisis. The presentation will help you identify areas of weakness, establish appropriate policies and engage appropriate stakeholders, and plan how you will maintain operations and continue to provide essential services in disaster scenarios.
Jessica Riggins, Vice President J.P. Morgan
Jessica Riggins is a Treasury Management Officer for J.P. Morgan focused on providing targeted information to state and local government clients across the Mid-Atlantic about new treasury products, market developments and industry trends. She assists municipalities in resolving cash flow and efficiency challenges, and she creates strategic dialogues around key client-centric issues, incorporating best practices, benchmarking, opportunity quantification and solution positioning. Jessica joined J.P. Morgan’s government banking team in 2017 with over seven years of experience in treasury services. She has an MBA from Wake Forest University and undergraduate degrees in Business and Psychology from University of North Carolina, Charlotte.
Eileen Roberts, Executive Director J.P. Morgan
Eileen Roberts is a member of the Government Industry Group at J. P. Morgan. She works with state and local government agencies to provide innovative, results-oriented ideas reflecting her broad experience in strategic and transactional situations within the public sector industry. She has been with the firm and predecessor organizations for 30 years. Eileen was involved in the technical design for the tax processing solution currently used for the various state and local programs across the country that J.P. Morgan operates. A graduate of Loyola University, Eileen holds a BS in Accountancy.
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Bonds and Post-Issuance Compliance
• Overview of the Federal Tax Certificate and its Purposes • Written Post-Issuance Tax Policies and Procedures • Record Keeping: What You Might Have to Show to the IRS • Arbitrage rebate and yield restriction • Exceptions to full calculation requirements • Staying ahead of the installment period/final report • Arbitrage earnings are returning – be prepared
Kim Hoyt, President
Bingham Arbitrage Rebate Services [email protected]
Leading the Bingham team since 1996, Kim provides dynamic direction and sound management essential for precision arbitrage rebate and verification reporting for every client. Sharing her 25+ years’ expertise and experience, she effectively guides Bingham’s account managers and staff through the post-issuance compliance changes resulting from the evolution of U.S. Treasury Regulations. A recognized professional in the arbitrage compliance field, Kim conducts specialized training and seminars for clients and the public finance industry on post-issuance compliance topics. She is an active participant in financial conferences and seminars nationwide. Kim is a member of the National Government Finance Officers Association (GFOA) and the National Association of Bond Lawyers, as well as the Virginia, Georgia, Louisiana, North Carolina, and Maryland GFOA’s. Kim is a graduate of Pennsylvania State University with a degree in Accounting.
Arthur Anderson II, Partner
McGuireWoods [email protected]
Arthur Anderson's practice is focused on the areas of public finance and federal, state and local taxation. He has extensive experience as bond counsel with governmental bond issues, including general obligation, revenue and "subject to appropriation" financings for water and sewer projects, public schools and roads, commuter rail and other transportation facilities, and in tax-exempt financings for nonprofit organizations, including private elementary and secondary schools, and health care providers.
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GASB 87
Presentation to cover accounting for leases, both for the lessee and lessor. Key definitions, exclusions, terms and examples will also be covered. Finally, we will look at some strategies for implementation and what steps to take now to prepare.
Matthew Heatwole, Director
Brown Edwards & Company, LLP [email protected]
Matt Heatwole is a director based in the Harrisonburg office. He has over fifteen years of experience in public accounting and ten years of municipal auditing experience for a wide range of entities including municipalities, governmental entities, non-profits, construction, cooperatives, and small businesses. He works on municipal audits which includes APA compliance auditing, Single Audit, and comprehensive annual financial report preparation. Matt holds a Bachelor of Science in Accounting and Information Systems and a Master of Accounting and Information Systems, both from Virginia Tech. He is actively committed to serving the community through current or past memberships on various community committees or boards including:
• Current President and past Treasurer of Mercy House
• Past Treasurer and current member of the Shenandoah Valley Builders’ Association
• Member of Harrisonburg Rotary Club
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Rating Agency Roundtable
Join this popular session to learn what the rating agencies are looking for when they rate your bonds. Rating Analysts discuss the emerging risks facing local governments in Virginia and across the U.S. that could potentially affect credit quality. We discuss these risks to provide insight as to how to prepare when faced with these questions during a rating meeting or conference call.
Evette Caze, Director, Public Finance Fitch Ratings
Evette Caze is a Director in Fitch Ratings’ Public Finance Department. Her area of focus consists of credit ratings for tax-supported credits in the Southeastern and Mid-Atlantic regions including Florida, Delaware, Maryland, Virginia, and North Carolina. Prior to joining Fitch, Evette served as an Assistant Vice President at several bond insurers, as an underwriter and as an analyst in risk management. She provided credit analysis of municipal issuers requesting bond insurance. She also spent three years as a tax-supported ratings analyst at Moody’s Investors Service. Evette received her B.A. in Finance from New York University and her M.S. in Urban Policy from the New School.
Kimberly Lyons, Vice President - Senior Analyst, Pubic Finance Group
Moody's Investor Service [email protected]
Kimberly Lyons is currently Vice President-Senior Analyst at Moody’s Investors Service in the US Public Finance Group where she is a senior member of the Local Government Ratings Team. Prior to (re)joining Moody’s she was SVP-Head of Municipal Credit Risk at Dexia Credit Local. She has been honored with the “40 under Forty” Achievement Award, presented by The Network Journal (TNJ). The award recognizes young African Americans who have proven to be exceptional performers in their industry and committed contributors to the development of their community. She has also been honored with the “Distinguished Young Alumna in Public Administration and Policy “from her Alma Mater Rockefeller College of Public Affairs and Policy-University at Albany and was named to the Rockefeller College of Public Affairs Alumni Advisory Board. Kimberly graduated from the University at Albany – State University of New York with a Bachelor’s degree in Sociology and received a Master’s in Public Administration from the University at Albany Rockefeller College of Public Affairs and Policy.
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Rating Agency Roundtable (Cont’d.)
Courtney Rogers, Senior Vice President, Public Finance Davenport & Company LLC
Courtney Rogers has over 30 years of municipal finance experience. He works as Financial Advisor for dozens of clients in Virginia and Georgia. He specializes in local government finances including the quantitative aspects of financings, cash flow analysis, multi-year financial forecasting, multi-year capital planning, debt capacity studies, rating agency interaction, debt issuance strategies, refunding debt restructuring, financing alternative sensitivity analysis, tax district analysis and execution for general government projects, economic development projects, water/sewer enterprise projects, and school projects. In addition, Rogers was the author of a $35 million General Fund and Utility Enterprise Fund budget in 2009 for a county who, at the time, did not have a Budget or Finance Director.
Nora Wittstruck, Director, ESG Lead, US Public Finance
S&P Global [email protected]
Nora Wittstruck joined S&P Global Ratings in January 2016 and is currently a Director – ESG Lead serving as the subject matter expert for ESG in Credit Ratings initiatives. She also is the analytical lead for New York City and on the analytical team for the State of Texas. Prior to joining S&P Global, Nora worked for the State of Florida in the Division of Bond Finance as a Bond Development Specialist. The Division of Bond Finance is responsible for managing the long-term debt issuance process for state agencies including the Department of Transportation and the State Colleges and Universities. Previous work history includes Moody’s Investors Service as an Assistant Vice President/Analyst covering local government credits in the West, Midwest and Southwest states. Nora received her Master’s in Public Administration from the University of North Texas in Denton, Texas and her Bachelor of Arts in Political Science from Truman State University in Kirksville, Missouri.
22 VGFOA Spring Conference 2021
Session Abstracts with Speaker Biographies Friday, June 18, 2021
Virginia CPA Ethics 2021
Fulfill your annual, two-hour Virginia Board of Accountancy (VBOA) ethics requirement with a course that is trusted by more than 8,000 CPAs year after year.
Krista Edoff, Partner, Assurance Services
Cherry Bekaert LLP [email protected]
Krista Edoff has more than fourteen years of experience providing audit and accounting services to public sector clients including financial and performance audits, agreed upon procedures, Single Audits and compliance audits. She is a member of the American Institute of Certified Public Accountants, the Virginia Society of Certified Public Accountants, the National and Virginia chapter of the Government Finance Officers Association, and the Affordance Housing Association of Certified Public Accountants. She is also a member of the AICPA’s Peer Review program, where her focus is governmental audits. Edoff received her Bachelors of Science in Accounting and Masters of Accounting from Florida State University.
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Session Abstracts with Speaker Biographies Thursday, June 24, 2021
CRF, ARPA and the Single Audit
Rob Churchman will explore the effect of the pandemic on State and Local Governments and various relief efforts, including CARES and the American Rescue Plan Act of 2021 (“ARPA”) and the specific provisions that apply to State and Local governments. He will also share lessons learned in preparing the Single Audit related to these programs.
Rob Churchman, Partner, Government Services Group
Cherry Bekaert LLP [email protected]
Rob Churchman has over 30 years of experience serving state and local governments, providing clients with a full range of audit, accounting services, including Single Audits. He is a member of the AICPA, the VSCPA, the National and Virginia chapters of the GFOA and the Association of Government Accountants. Throughout his career, Rob has served these public sector organizations as a teacher and subject matter authority, while also serving as a member of several related teams, such as the AICPA Other Postemployment Benefits task force, the Commonwealth of Virginia’s Auditor of Public Accounts’ GASB #34 and #45 task forces and the VSCPA Government Issues Task Force. He is an approved reviewer for the AICPA Peer Review Program and a has served GFOA Certificate of Excellence in Financial Reporting program reviewer.
24 VGFOA Spring Conference 2021
VRS Update Join the Virginia Retirement System’s Leslie Weldon, controller, for a look at Governmental Accounting Standards Board (GASB) requirements for pensions and OPEBs, and where to view additional financial reporting resources on the VRS employer website. After a legislative review and investments update, they will highlight the agency’s progress in rolling out new online features for members, including online retirement. Also, they will present topics and learning opportunities in the award-winning myVRS Financial Wellness program that members can access to learn more about topics such as improving their credit scores and paying off debt. You’ll walk away with an update of VRS programs and services, and a collection of tips and tools you can use!
Barry Faison, Chief Financial Officer
Virginia Retirement System [email protected]
Barry Faison serves as Chief Financial Officer for the Virginia Retirement System (VRS), an $82 billion public employee retirement system. His division includes the departments of Finance, Budget and Performance Reporting, General Accounting, Employer Reporting and Investment Accounting. In addition, his division prepares and publishes the VRS Annual Report and the VRS Popular Annual Report. Barry has served Virginia citizens for more than 44 years, with 41 years of service at VRS. He has held other positions at VRS, including Controller and Accounting Manager. Barry holds a bachelor’s degree in accounting and a master’s degree in business from Virginia Commonwealth University. He is a Certified Public Accountant, a Chartered Global Management Accountant and a Certified Government Financial Manager. He currently serves as Chair of the Government Finance Officers Association’s Committee on Retirement and Benefit Administration.
Leslie Weldon, Controller
Virginia Retirement System [email protected]
Leslie Weldon serves as Controller for the Virginia Retirement System (VRS). Her division includes General Accounting and Financial Controls. In addition, she is responsible for publishing the VRS Annual Report and the VRS Popular Annual Report, including overseeing and verifying all data and information included in the report. Leslie has five years of service at VRS and has 24 years of finance/accounting experience. Leslie holds a bachelor’s degree in accounting from Virginia Commonwealth University and a master’s degree in business from University of Richmond. She is also a Certified Public Accountant.
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APA Update This session will provide an update related to the APA's oversight for Virginia local governments:
• Recent organizational changes at the Auditor of Public Accounts • Reminders on important annual audit and reporting requirements—upcoming accounting standards, the APA’s Audit Specifications, and the APA comparative report transmittal process • Key changes from recent Virginia General Assembly legislative sessions that impact local governments • Overview and recent results of the APA’s annual quality control reviews over CPA firms auditing Virginia’s local governments • Update on the APA’s annual fiscal distress monitoring process over cities, counties, and towns
Rachel Reamy, Local Government Audit Manager
Auditor of Public Accounts [email protected]
Rachel Reamy is an audit manager with the Virginia Auditor of Public Accounts (APA), and has been with the APA for over 11 years. As the APA’s Local Government audit manager, Rachel has responsibility for the APA’s annual Comparative Report of Local Government Revenues and Expenditures, the annual fiscal distress monitoring process, along with other responsibilities related to oversight and monitoring of Virginia’s local governments. Additionally, she performs other specialty tasks, to include: leading the APA’s strategic planning process, assisting as a project manager for state audits, providing internal technical assistance related to audit and accounting standards, developing and presenting internal APA trainings, as well as external trainings for various local government focused groups and organizations. Rachel received her B. S. in Accounting and Criminal Justice from Old Dominion University, and her Masters of Accountancy from Liberty University. Rachel is a member of the Virginia Government Finance Officers’ Association, the Virginia Society of CPAs, and the Association of Government Accountants, and holds a certification as a Certified Government Financial Manager (CGFM).
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Economic Update This session will discuss current economic conditions in the United States and Virginia and the challenges to growth in 2021 and beyond. How has the pandemic affected economic indicators? What will the influx of federal funds do to the economy? Learn more in this session.
Ellis Phifer, Managing Director and Strategist, Fixed Income Research
Division Raymond James
Ellis Phifer serves as a Managing Director and Strategist for the Fixed-Income Research Division of Raymond James. He has been actively involved in the fixed-income markets for 25 years, split between fixed-income portfolio management and strategy/research. Ellis and his team utilize a top-down approach to strategy development, beginning with the macro-economic environment to guide decisions to the sector level and then to the individual security level. He regularly consults with clients on global macro-economic environment issues, including geopolitics, currencies, and commodities and how they affect interest rates, the yield curve and, ultimately, security selection. He has been quoted in Reuters, CNBC, Daily Mail, and Yahoo News on his thoughts on the economy, in fixed-income, and in currencies. His fixed-income portfolio management career included the Employees Retirement System of Texas (ERS) and the Texas General Land Office. While at ERS, Ellis advanced to become the Director of Fixed Income, overseeing fixed income asset allocation and directly managing $3 billion of the $6 billion in fixed-income investments. Prior to joining Raymond James, Ellis was the Agency/Market Strategist and Head Technical Strategist for FTN Financial, working with portfolio managers across asset classes on various total return strategies. Ellis earned his MBA from The University of Texas at Austin and his B.S. in Finance from the University of New Orleans and holds the Chartered Financial Analyst and Chartered Market Technician designations.
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Spring Conference 2021 Exhibitors
28 VGFOA Spring Conference 2021
Spring Conference 2021 Sponsors
